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Rajoy Gives Up Control of Spain Market Regulator in Brexit Push

  • Former Linklater partner will ensure stablity, Garicano says
  • Ciudadanos sees deal with Guindos on appointing regulators

Prime Minister Mariano Rajoy’s decision to replace a party loyalist with an independent expert at the head of the markets regulator will help Spain lure companies seeking a new base after Britain leaves the European Union, according to Luis Garicano, head of economic policy at the Spanish liberal party, Ciudadanos.

The new regulatory chief, Sebastian Albella, will burnish Madrid’s credentials as a stable legal environment, said Garicano, who proposed Albella as a candidate for the post to Economy Minister Luis de Guindos. Albella was appointed by the government last month.